Ringgit ends higher against US dollar

Kuala Lumpur – The ringgit ended higher against the US dollar today on improved buying interest for the local note and higher crude oil price, dealers said.

At 6 pm, the local unit was traded at 4.4700/4730 against the greenback from 4.4730/4760 on Tuesday.

A dealer said the international Brent crude rose 0.93 per cent to US$54.14 per barrel on news reports that of Saudi Arabia would cut oil supply to Asia.

On another note, FXTM Research Analyst, Lukman Otunuga, said the rising uncertainty and growing unease ahead of a press conference by the US president-elect Donald Trump later today has left financial markets on high alert.

Meanwhile, the ringgit was traded higher against a basket of major currencies.

The local note appreciated against the yen to 3.8471/8514 from 3.8554/8593 on Tuesday and edged up against the Singapore dollar to 3.1085/1110 from 3.1151/1176 previously.

The ringgit rose against the euro to 4.7091/7128 from 4.7396/7432 on Tuesday and strengthened against the British pound to 5.4181/4231 from 5.4325/4370 yesterday. — Bernama